BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 Apri 1949
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1 Jan 1949
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1 September 1949 st
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1 December 1949
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Detailed explanation-1: -The Reserve Bank of India was nationalised with effect from 1st January, 1949 on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948.
Detailed explanation-2: -State Bank of India (SBI), state-owned commercial bank and financial services company, nationalized by the Indian government in 1955.
Detailed explanation-3: -Detailed Solution. The correct answer is the State Bank of India.
Detailed explanation-4: -As a result of bank crashes, the RBI was requested to establish and monitor a deposit insurance system. Meant to restore the trust in the national bank system, it was initialised on 7 December 1961. The Indian government founded funds to promote the economy and used the slogan “Developing Banking".